Advanced Tax Laws

Paper Code: 
BCS 514
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To acquire knowledge on practical application of Customs Law, Corporate Taxation including International Taxation..

12.00
Unit I: 

Basic Concepts of Customs Law: Introduction; Levy and collection of

customs duties; Taxable Events; Custom duties.

Valuation & Assessment of Imported and Export Goods & Procedural

Aspects:  Classification  and  Valuation  of  Import  and  Export  Goods;

Assessment; Abatement and Remission of Duty; Exemptions; Refund and

recovery.

Arrival or Departure and Clearance of  Goods, Warehousing, Duty

Drawback,  Baggage  and  Miscellaneous  Provisions:  Arrival   and

departure of goods; Clearance of Import and Export Goods & Goods in

Transit;  Transportation  and  Warehousing  provisions;  Duty  Drawback

provisions, Baggage Rules & provision related to prohibited goods, notified

goods, specified goods, illegal importation / exportation of goods.

Advance Ruling, Settlement Commission, Appellate Procedure, Offences

and  Penalties:  Advance  Ruling;  Appeal  and  Revision;  Offences  and

Penalties; Prosecution; Settlement of Cases.

Foreign Trade Policy (FTP) to the extent relevant to Indirect tax:

Export promotion scheme under FTP; Salient features, administration &

Other miscellaneous provisions.

 

9.00
Unit II: 

Corporate  Tax  Planning  &  Tax  Management:  Tax  Planning,  Tax

Management; Tax Avoidance v/s Tax Evasion; Areas of Corporate Tax

Planning; Tax Planning Management Cell.

Taxation  of  Companies,  LLP  and  Non-resident:  Tax  incidence  on

Companies including foreign company;  Minimum Alternate Tax‘MAT’;

Dividend Distribution Tax; Alternate Minimum Tax ‘AMT’; Tax incidence

on LLP; Taxation of Non-resident Entities.

8.00
Unit III: 

General  Anti  Avoidance  Rules  ‘GAAR’:  Basic  concept  of  GAAR;

Impermissible avoidance  arrangement;  Arrangement  to  lack  commercial

substance; Application of GAAR Rule; GAAR v/s SAAR.

Tax Treaties.

8.00
Unit IV: 

Basics of International Taxation

i.  Transfer  Pricing:  Introduction  &  Concept  of  Arm’s  Length  Price;

International and Specified Domestic Transaction; Transfer Pricing Methods;

Advance Pricing Agreement & Roll Back Provision; Documentation and Return

ii. Place of Effective Management (POEM): Concept of POEM; Guidelines of

determining POEM.

8.00
Unit V: 

Income   Tax   Implication   on   specified   transactions:   Slump   Sale;

Restructuring; Buy Back of shares; Redemption of Preference shares; Issue of

shares at Premium; Transfer of shares; Reduction of share Capital; Gifts, cash

credits, unexplained money,

investments etc.

References: 

1. Study Material Published by ICSI

2. Scanner: Arun Kumar (Suchitra Prakashans P Ltd)

 

 

Academic Year: 
2018-2019
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